Every company in Singapore is required to hire at least one person who will serve as its company secretary. This requirement is stated in Singapore’s Companies Act. Company secretaries do not carry out the same duties as do other secretaries. The primary task of the company secretary of a Singapore-based company is that of assisting in the general operations of the company while also ensuring that the company’s directors and shareholders are appropriately informed about all regulatory obligations which are to be fulfilled by the company in question. Company secretaries are also to lodge and file all documents which require such to be done, plan and arrange for meetings involving the company’s directors and shareholders, and provide administrative and legal support to the members of board of directors in order to better prepare them for meetings.
In Singapore, there are certain criteria to be fulfilled by any person who may have the intention of becoming the company secretary of a company based there. The company secretary of a Singapore company is to be a natural person, a legal resident of Singapore, aged 18 or older, or have committed any violations which would cause the prospective company secretary to become ineligible for the position. Every company secretary in Singapore must also possess an acceptable level of academic and professional qualifications while also having a sufficient amount of experience. In the case of public companies, there are certain specific qualifications to be fulfilled by the company secretary. These include being a qualified person under the Legal Profession Act or being a member of an organization which has received due approval from the authorities.
There are certain instances in which company secretaries are required to take on additional duties. Such duties usually depend on the company secretary’s professional qualifications and prior work experience. These duties may span fields including general administration, law, human resource, general management, finance, or accounting, among others. The specific duties in question ought to be specified in the company secretary’s employment contract so that the company secretary fully understands the tasks which are expected to be fulfilled.
Not every company in Singapore finds it easy to hire a company secretary. There are some difficulties which may be encountered by companies which attempt to do so. For this reason, we at Paul Hype Page & Co will provide a company secretary to any company owner who is interested. The person we select for the position will be one who is suitably qualified for the position. Therefore, if you have accepted this person for your company, you will be able to put more emphasis on other areas of running the company and thus be able to increase the overall profitability and revenue of your company.